Updated Apr 30, 2026
Amy Kit-Ming Mak Of Fook Funeral Group Closes $27.5M Construction Loan With Preferred Bank In Flushing
134 Northern Boulevard
$27,500,000
Building Size
—
Asset Type
Development Site
Closing
Apr 22, 2026
About this deal
AI
The asset involved in the transaction is a development site located at 134-19 Northern Boulevard in Flushing, Queens. This property encompasses a total building square footage of 55,252, supporting its designation as a development site. The transaction is underpinned by a construction loan amounting to $27,500,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $27,500,000
- Market: Flushing, Queens
- Lender: Preferred Bank
- Landlord: Amy Kit-Ming Mak - Fook Funeral Group
- Loan Type: Construction
Amy Kit-Ming Mak of Fook Funeral Group, represented through Fortune 23 Realty LLC, finalized the construction loan agreement with Preferred Bank, which supports a mixed-use development led by a funeral home.
Players
Great Neck Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.58%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93